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Facts About Capital Gains and Losses

Posted by Taylor Bennett on Jun 18, 2020 8:27:00 AM

When you sell a capital asset such as a home, household furnishings, and stocks and bonds held in a personal account, the difference between the amount you paid for the asset and its sales price is known as a capital gain or capital loss. Here are ten facts you should know about how gains and losses can affect your federal income tax return.

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Topics: Business Ownership, Personal Finance, Taxes, Rental Real Estate, Home Ownership

Home Equity Loan Interest Still Deductible

Posted by Missy Dennis on Mar 10, 2020 8:22:00 AM

The Tax Cuts and Jobs Act has resulted in questions from taxpayers about many tax provisions including whether interest paid on home equity loans is still deductible. The good news is that despite newly enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home equity line of credit (HELOC) or second mortgage, regardless of how the loan is labeled.

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Topics: Personal Finance, Tax Deduction, Tax Return, Home Ownership

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